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East Kingston finance report: projected $27,546 year-end fund balance; limited options for use
Summary
Business staff reported a projected fund balance of $27,546 at year-end after monthly expenses and investment earnings. Board discussed options for using surplus funds and statutory limits on creating trust funds without voter approval.
The East Kingston School District business office reported a projected fund balance of $27,546 at the end of the fiscal year after accounting for April encumbrances and estimated investment earnings.
Business/finance staff Miss Milan told the board that at the end of last month the district had remaining expenses of $26,267. After adding encumbrances for supplies and facilities, the district spent an additional $6,721 during the month,…
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